Not a month goes by without further mountains of debt emerging into view — as Spain and Italy join the list of debtors headed by Greece, Ireland and Portugal. Gone are the days when it could be imagined that the richer countries of Europe, led by Germany, could happily afford to bail out the sums run up by the reckless borrowing of their poorer colleagues.

So vast is the problem that it is becoming obvious all the money in Europe couldn’t hope to solve this crisis, which threatens not just the countries of the eurozone, but also many other nations with an economic meltdown without historical precedent.
The single currency is facing the biggest crisis in its history

The single currency is facing the biggest crisis in its history

And all this has ultimately been brought about by the determination of Europe’s politicians to cling on, at almost any cost, to the most reckless single blunder in their 50-year-old dream of building what amounted to a ‘United States of Europe’.

It is a short, concise run-down of how we got into this mess we're in. Very informative. Not much of a fun read, though.